Halifax Scrapping £5/Cinema ticket Rewards.

danny13579

PRAISETHESUN said:

Personally I'm going to leave my accounts as is - I've automated the monthly pay in with standing orders, and it just means I no longer need to make the monthly debit card transactions.

I will probably do the same, just in case sometime in the future they bring back some decent rewards, but limit them to one new Reward Current Account for people who don't already have more than one Reward Current Account.

BlueonBlue

danny13579 said:

PRAISETHESUN said:

Personally I'm going to leave my accounts as is - I've automated the monthly pay in with standing orders, and it just means I no longer need to make the monthly debit card transactions.

I will probably do the same, just in case sometime in the future they bring back some decent rewards, but limit them to one new Reward Current Account for people who don't already have more than one Reward Current Account.

I think they will do this or some variation of it .
Otherwise why do anything ....its a purge of multiple account holders and likely they will offer a brand new carrot of some sort .
First step is too get rid of the multiple £5 account holders 

friolento

BlueonBlue said:

 
First step is too get rid of the multiple £5 account holders 

They could achieve that with a simple change to T&Cs, without scrapping the rewards for everyone. 

There's not been any indication, either, that they will reduce the number of accounts people can hold.

So I don't think their motivation / intention is to get rid of multiples.

BlueonBlue

Some people have more than 3 accounts and Halifax have had purges before .
Whatever the motivation is ..its to pay out less money and profit by doing so .
The bean counters will need a new job if they dont come up with something to that effect .
Then even that idea could be sacked off in a year or a number of months for another plan from more replacement bean counters .
Moving the goal posts is nothing new .

kuepper

Poor customer service as i've not had anything from Hx about this, only read about it on MSE

friolento

BlueonBlue said:

Some people have more than 3 accounts  

I know, I am one of them 

frosch411

kuepper said:

Poor customer service as i've not had anything from Hx about this, only read about it on MSE

Same.. seen an MSE post on IG..it's the first I have heard of this..as a Reward Current Account holder 🤪

s71hj

friolento said:

danny13579 said:

pokemaster said:

Looks like have to run the £1,500 through the accounts still though because of the £3 fee?

I would say so, but that can be done at the start of the month in seconds. Or you can downgrade your Reward Current Accounts to Current Accounts after you get your remaining £5s in October.

You’d still want to move some money through the accounts even if you downgrade them, to keep them alive for Yougov purposes. Not every month but just once or twice a year.

I think I will retain them as Reward accounts, just on the off chance that they will offer some proper rewards in future. I have 5, and don’t expect I’d ever get this many again

Sorry, I'm relatively new to this. What does "for yougov purposes " mean. Am I missing out on something!!!

friolento

s71hj said:

friolento said:

danny13579 said:

pokemaster said:

Looks like have to run the £1,500 through the accounts still though because of the £3 fee?

I would say so, but that can be done at the start of the month in seconds. Or you can downgrade your Reward Current Accounts to Current Accounts after you get your remaining £5s in October.

You’d still want to move some money through the accounts even if you downgrade them, to keep them alive for Yougov purposes. Not every month but just once or twice a year.

I think I will retain them as Reward accounts, just on the off chance that they will offer some proper rewards in future. I have 5, and don’t expect I’d ever get this many again

Sorry, I'm relatively new to this. What does "for yougov purposes " mean. Am I missing out on something!!!

You can get points for letting yougov.com collect information from your accounts, plus from surveys and some other sources. 5,000 points are worth £50. Each account is worth 5 points a day, but you can now only have 3 accounts registered with yougov so it can be rather tedious to collect 5,000 points. Some lucky users are allowed 10 accounts for historic reasons but they have limited replacement options so need to keep existing accounts. There is a thread on this on the Savings & Investment board if you want to know more - but like with so many things these days, it’s a lot less attractive to get started now.

gt94sss2

kuepper said:

Poor customer service as i've not had anything from Hx about this, only read about it on MSE

Halifax have a couple of months to inform us of any changes since they don't kick in until September/October.